The cut you set accrues to an account you can read.
- Surface
- fee collection account
- You set
- the app fee rule
- VantaCrest sets
- the platform fee
- Collected
- at settlement
The book as it stands.
as of 09:48:17- Your app fee rule
- 0.25% · capped at $40
- Platform fee
- shown per transfer · not set by you
The balance is the sum of the record
47 collections carried forward, 6 today. Open it and the arithmetic closes, to the unit.
- appfee.collectedtr_3Vd7Q+$6.00
- appfee.collectedtr_3Vb21+$3.10
- appfee.collectedtr_3Vb28+$40.00
- appfee.collectedtr_3Vb36+$24.55
- appfee.collectedtr_3Vb45+$40.00
- appfee.collectedtr_3Vb4c+$0.24
Each collection is 0.25% · capped at $40 of its transfer, e.g. $6.00 on tr_3Vd7Q. The account and the journal are the same events.
Set the rule, once
Your application fee is a formula — fixed, percent, capped, or ranged — set per application. The platform fee is VantaCrest's; you see it in full but do not set it. Both come off a transfer; the net settles to the destination.
Collected at settlement, into its own account
A fee is assessed when a transfer is created and collected only when it settles. Collected fees accrue to a fee collection account with its own settled, available, and reserved balance.
Reconciled to the journal
Every collection is a recorded movement: reference, amount, time. Each movement traces back to a settled transfer in the journal, so the fee account and the journal always agree, to the unit, because both are the same events.